{"id":25297,"date":"2026-11-01T00:40:28","date_gmt":"2026-11-01T00:40:28","guid":{"rendered":"https:\/\/interspacemusic.com\/blog\/%e5%a2%9e%e9%95%bf%e4%b8%ad%e7%9a%84%e9%9f%b3%e4%b9%90%e5%ad%a3%e5%ba%a6%ef%bc%8c%e4%b8%8d%e6%ad%a2%e4%b8%80%e4%b8%aa%e5%bc%95%e6%93%8e\/"},"modified":"2026-11-01T03:40:51","modified_gmt":"2026-11-01T03:40:51","slug":"a-growing-music-quarter-has-more-than-one-engine-zh","status":"publish","type":"post","link":"https:\/\/interspacemusic.com\/blog\/zh\/a-growing-music-quarter-has-more-than-one-engine-zh\/","title":{"rendered":"\u589e\u957f\u4e2d\u7684\u97f3\u4e50\u5b63\u5ea6\uff0c\u4e0d\u6b62\u4e00\u4e2a\u5f15\u64ce"},"content":{"rendered":"<p><a href=\"https:\/\/interspacemusic.com\/blog\/umg-q3-2026-revenue-rises-11-7-to-e3-394-billion\/\">Universal Music Group \u62a5\u544a\u79f0\uff0c2026 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u6536\u5165\u4e3a \u20ac3.394 billion\uff0c\u540c\u6bd4\u589e\u957f 11.7%\uff0c\u8ba2\u9605\u6d41\u5a92\u4f53\u3001\u5b9e\u4f53\u9500\u552e\u548c\u6536\u8d2d Downtown 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href=\"https:\/\/interspacemusic.com\/blog\/umg-q3-2026-revenue-rises-11-7-to-e3-394-billion\/\">UMG \u5c06\u8ba2\u9605\u6d41\u5a92\u4f53\u3001\u5b9e\u4f53\u9500\u552e\u548c\u6536\u8d2d Downtown \u5217\u4e3a\u672c\u5b63\u5ea6\u7684\u6536\u5165\u8d21\u732e\u6765\u6e90\u3002<\/a>\u5382\u724c\u4e5f\u53ef\u4ee5\u7528\u540c\u6837\u7684\u533a\u5206\u65b9\u6cd5\u5206\u6790\u89c4\u6a21\u66f4\u5c0f\u7684\u4e1a\u52a1\uff0c\u65e0\u9700\u7167\u642c UMG \u7684\u7b56\u7565\u3002\u5c06\u73b0\u6709\u5f55\u97f3\u4ea7\u751f\u7684\u8ba2\u9605\u6536\u5165\uff0c\u4e0e\u5b9e\u4f53\u9500\u552e\u6536\u5165\u53ca\u901a\u8fc7\u8d2d\u4e70\u76ee\u5f55\u65b0\u589e\u7684\u6536\u5165\u5206\u5f00\u8bb0\u5f55\u3002\u7136\u540e\u5c06\u6bcf\u4e00\u9879\u4e0e\u5176\u81ea\u8eab\u7684\u4e0a\u4e00\u671f\u8fdb\u884c\u6bd4\u8f83\u3002\u5173\u952e\u4e0d\u53ea\u662f\u603b\u6536\u5165\u662f\u5426\u589e\u957f\uff0c\u800c\u662f\u5382\u724c\u80fd\u591f\u91cd\u590d\u7684\u4e1a\u52a1\u6d3b\u52a8\u662f\u5426\u589e\u957f\u3002<\/p>\n<p>\u89e3\u8bfb\u5e02\u573a\u53cd\u5e94\u65f6\u4e5f\u9700\u8981\u4f5c\u51fa\u8fd9\u79cd\u533a\u5206\u3002<a href=\"https:\/\/interspacemusic.com\/blog\/universal-music-group-shares-rise-7-9-after-q3-results\/\">\u7b2c\u4e09\u5b63\u5ea6\u8ba2\u9605\u6536\u5165\u589e\u957f\u8d85\u8fc7\u5206\u6790\u5e08\u9884\u671f\u540e\uff0cUMG \u80a1\u4ef7\u6536\u76d8\u4e0a\u6da8 7.9%\u3002<\/a>\u80a1\u4ef7\u53d8\u52a8\u53cd\u6620\u4e86\u6295\u8d44\u8005\u5982\u4f55\u4f9d\u636e\u9884\u671f\u8bc4\u5224\u516c\u53f8\u7684\u4e1a\u7ee9\u3002\u5b83\u4e0d\u4f1a\u544a\u8bc9\u5382\u724c\u591a\u4e00\u6b21\u64ad\u653e\u80fd\u5e26\u6765\u591a\u5c11\u6536\u5165\uff0c\u4e5f\u4e0d\u4f1a\u544a\u8bc9\u5382\u724c\u518d\u538b\u4e00\u6279\u5b9e\u4f53\u5531\u7247\u80fd\u5426\u6536\u56de\u6210\u672c\u3002\u8fd9\u4e9b\u51b3\u7b56\u9700\u8981\u4f9d\u636e\u5382\u724c\u6309\u6e20\u9053\u5212\u5206\u7684\u6536\u5165\u548c\u6210\u672c\u3002<\/p>\n<h2>\u540c\u65f6\u8ba1\u7b97\u8ba2\u9605\u7528\u6237\u6570\u53ca\u5176\u6536\u76ca<\/h2>\n<p>\u8ba2\u9605\u7528\u6237\u589e\u957f\u8fd8\u6709\u7b2c\u4e8c\u4e2a\u53d8\u91cf\uff1a\u6bcf\u4f4d\u8ba2\u9605\u7528\u6237\u5e26\u6765\u7684\u6536\u5165\u3002<a href=\"https:\/\/interspacemusic.com\/blog\/zh\/china-s-subscription-growth-has-lost-its-quarterly-denominator-zh\/\">NetEase \u8868\u793a\uff0c\u8ba2\u9605\u7528\u6237\u589e\u52a0\uff0c\u4f46\u5e73\u5747\u6536\u76ca\u6709\u6240\u4e0b\u964d\u3002<\/a>\u8fd9\u79cd\u7ec4\u5408\u4ecd\u53ef\u80fd\u5e26\u6765\u8ba2\u9605\u603b\u6536\u5165\u589e\u957f\uff0c\u4f46\u4f1a\u6539\u53d8\u9884\u6d4b\u3002\u5982\u679c\u5e73\u5747\u6536\u76ca\u6301\u7eed\u4e0b\u6ed1\uff0c\u4ecd\u7528\u8fc7\u53bb\u7684\u5e73\u5747\u6536\u76ca\u4e58\u4ee5\u672a\u6765\u7528\u6237\u6570\uff0c\u5c31\u4f1a\u9ad8\u4f30\u53ef\u7528\u8d44\u91d1\u3002<\/p>\n<p><a href=\"https:\/\/interspacemusic.com\/blog\/zh\/china-s-subscription-growth-has-lost-its-quarterly-denominator-zh\/\">Tencent \u4e0d\u518d\u516c\u5e03\u5b63\u5ea6\u4ed8\u8d39\u7528\u6237\u6307\u6807\u3002<\/a>\u7f3a\u5c11\u8fd9\u4e00\u6570\u636e\uff0c\u5916\u90e8\u89c2\u5bdf\u8005\u5c31\u65e0\u6cd5\u6839\u636e\u5176\u5b63\u5ea6\u4e1a\u7ee9\u533a\u5206\u4ed8\u8d39\u7528\u6237\u6570\u91cf\u53d8\u5316\u548c\u6bcf\u4f4d\u7528\u6237\u6536\u76ca\u53d8\u5316\u3002\u5bf9\u5382\u724c\u800c\u8a00\uff0c\u5b9e\u9645\u7684\u5e94\u5bf9\u65b9\u5f0f\u662f\u6839\u636e\u81ea\u8eab\u7684\u5e73\u53f0\u6536\u5165\u3001\u76ee\u5f55\u6d3b\u52a8\u548c\u5408\u540c\u6761\u6b3e\u8fdb\u884c\u9884\u6d4b\u3002\u5e73\u53f0\u6536\u5165\u589e\u957f\u53ef\u4ee5\u8868\u660e\u5176\u4e1a\u52a1\u6b63\u5728\u6269\u5f20\uff0c\u4f46\u4e0d\u80fd\u7528\u6765\u4ee3\u66ff\u5382\u724c\u7684\u7248\u7a0e\u7387\u3002<\/p>\n<p>\u5728\u589e\u52a0\u63a8\u5e7f\u652f\u51fa\u524d\uff0c\u8fd9\u662f\u4e00\u9879\u5b9e\u7528\u7684\u6838\u67e5\u3002\u5982\u679c\u8425\u9500\u6d3b\u52a8\u5e26\u6765\u66f4\u591a\u8046\u542c\uff0c\u4f46\u6bcf\u5355\u4f4d\u76ee\u5f55\u6d3b\u52a8\u7684\u6536\u5165\u4e0b\u964d\uff0c\u90a3\u4e48\u65b0\u589e\u542c\u4f17\u5e26\u6765\u7684\u6536\u5165\u53ef\u80fd\u4f4e\u4e8e\u4e0a\u4e00\u573a\u6d3b\u52a8\u7684\u542c\u4f17\u3002\u4f7f\u7528\u76f8\u540c\u7684\u5e73\u53f0\u548c\u671f\u95f4\uff0c\u5c06\u6536\u5230\u7684\u73b0\u91d1\u4e0e\u4ea7\u751f\u6536\u5165\u7684\u6d3b\u52a8\u91cf\u8fdb\u884c\u6bd4\u8f83\u3002\u5236\u5b9a\u4e0b\u4e00\u7b14\u652f\u51fa\u65f6\uff0c\u5e94\u4f9d\u636e\u8fd9\u79cd\u5173\u7cfb\uff0c\u800c\u4e0d\u662f\u5b64\u7acb\u5730\u770b\u8ba2\u9605\u7528\u6237\u589e\u957f\u3002<\/p>\n<h2>\u4e0d\u8981\u628a\u5408\u540c\u53d8\u66f4\u7eb3\u5165\u57fa\u51c6\u60c5\u666f<\/h2>\n<p><a href=\"https:\/\/interspacemusic.com\/blog\/zh\/universal-music-group-q3-2026-revenue-rises-as-dsp-talks-loom-zh\/\">UMG \u8868\u793a\u8ba1\u5212\u4e0e digital service providers (DSPs) \u91cd\u65b0\u534f\u5546\u6d41\u5a92\u4f53\u534f\u8bae\u3002<\/a>\u534f\u5546\u53ef\u80fd\u6539\u53d8\u5e73\u53f0\u6536\u5165\u8f6c\u5316\u4e3a\u6743\u5229\u4eba\u6536\u5165\u7684\u8def\u5f84\u3002\u5f53\u524d\u534f\u8bae\u51b3\u5b9a\u4eca\u5929\u7684\u6536\u5165\uff0c\u4fee\u8ba2\u540e\u7684\u534f\u8bae\u53ea\u6709\u5728\u6761\u6b3e\u751f\u6548\u540e\u624d\u4f1a\u51b3\u5b9a\u6536\u5165\u3002\u5382\u724c\u82e5\u6839\u636e\u5f53\u524d\u6536\u5165\u8fdb\u884c\u89c4\u5212\uff0c\u5c31\u5e94\u5c06\u8fd9\u4e24\u79cd\u60c5\u51b5\u5206\u5f00\u5904\u7406\u3002<\/p>\n<p>\u8fd9\u4e00\u533a\u5206\u5f88\u91cd\u8981\uff0c\u56e0\u4e3a\u5e73\u53f0\u589e\u957f\u548c\u5408\u540c\u589e\u957f\u5728\u6536\u5165\u9879\u76ee\u4e2d\u770b\u8d77\u6765\u53ef\u80fd\u76f8\u4f3c\u3002\u5728\u6761\u6b3e\u4e0d\u53d8\u7684\u60c5\u51b5\u4e0b\uff0c\u8046\u542c\u91cf\u589e\u52a0\u53ef\u4ee5\u63d0\u9ad8\u6536\u5165\u3002\u5373\u4f7f\u8046\u542c\u91cf\u6301\u5e73\uff0c\u6761\u6b3e\u53d8\u5316\u4e5f\u53ef\u80fd\u6539\u53d8\u6536\u5165\u3002\u5e94\u540c\u65f6\u8ffd\u8e2a\u76ee\u5f55\u6d3b\u52a8\u548c\u9002\u7528\u534f\u8bae\u8fd9\u4e24\u4e2a\u56e0\u7d20\uff0c\u4ece\u800c\u660e\u786e\u6536\u5165\u53d8\u5316\u7684\u539f\u56e0\u3002\u82e5\u9884\u6d4b\u57fa\u4e8e\u9884\u671f\u4e2d\u7684\u534f\u8bae\uff0c\u5c31\u5e94\u5148\u5217\u660e\u751f\u6548\u6761\u6b3e\u548c\u65e5\u671f\uff0c\u518d\u5c06\u76f8\u5e94\u8d44\u91d1\u8ba1\u5165\u53d1\u884c\u9884\u7b97\u3002<\/p>\n<h2>\u6839\u636e\u5b9e\u9645\u6536\u5165\u5236\u5b9a\u9884\u7b97<\/h2>\n<p>\u6309\u6e20\u9053\u8fdb\u884c\u5ba1\u67e5\uff0c\u53ef\u4ee5\u7b80\u77ed\u5230\u6bcf\u6b21\u5382\u724c\u5236\u5b9a\u4e0b\u4e00\u7b14\u9884\u7b97\u65f6\u90fd\u80fd\u6267\u884c\uff1a<\/p>\n<ul>\n<li><strong>\u8ba2\u9605\u6d41\u5a92\u4f53\uff1a<\/strong>\u6bd4\u8f83\u5404\u5e73\u53f0\u6536\u5230\u7684\u73b0\u91d1\u4e0e\u76ee\u5f55\u6d3b\u52a8\u91cf\uff0c\u5e76\u66f4\u65b0\u9884\u6d4b\u4e2d\u91c7\u7528\u7684\u6536\u76ca\u6c34\u5e73\u3002<\/li>\n<li><strong>\u5b9e\u4f53\u9500\u552e\uff1a<\/strong>\u5c06\u9500\u552e\u6536\u5165\u4e0e\u751f\u4ea7\u548c\u9500\u552e\u8be5\u79cd\u5f62\u5f0f\u4ea7\u54c1\u6240\u6d89\u53ca\u7684\u6210\u672c\u8fdb\u884c\u6bd4\u8f83\u3002<\/li>\n<li><strong>\u6536\u8d2d\u76ee\u5f55\uff1a<\/strong>\u5c06\u901a\u8fc7\u6536\u8d2d\u65b0\u589e\u7684\u6536\u5165\u4e0e\u5382\u724c\u539f\u672c\u63a7\u5236\u7684\u5f55\u97f3\u6240\u5e26\u6765\u7684\u589e\u957f\u5206\u5f00\u8bb0\u5f55\u3002<\/li>\n<li><strong>\u5408\u540c\u53d8\u66f4\uff1a<\/strong>\u5f85\u62df\u8bae\u7684\u6d41\u5a92\u4f53\u6761\u6b3e\u751f\u6548\u540e\uff0c\u518d\u5c06\u5176\u7eb3\u5165\u8fd0\u8425\u9884\u6d4b\u3002<\/li>\n<\/ul>\n<p><a href=\"https:\/\/interspacemusic.com\/blog\/umg-q3-2026-revenue-rises-11-7-to-e3-394-billion\/\">UMG \u7684\u5b63\u5ea6\u6536\u5165\u589e\u957f 11.7%<\/a>\u4ee3\u8868\u7684\u662f\u516c\u53f8\u603b\u6536\u5165\uff0c\u800c<a href=\"https:\/\/interspacemusic.com\/blog\/zh\/china-s-subscription-growth-has-lost-its-quarterly-denominator-zh\/\">NetEase 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